Origo Shuffles Board As Realisation Mode Take Precedence (ALLISS)

LONDON (Alliance News) - Origo Partners PLC Monday said that Executive Chairman Wang Chao Yong, ...

Alliance News 16 February, 2015 | 10:18AM
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LONDON (Alliance News) - Origo Partners PLC Monday said that Executive Chairman Wang Chao Yong, Chief Executive Chris Rynning, and Non-Executive Directors Christopher Jemmett and Tom Prestulen have agreed to step down as directors in the wake of a review aimed at its governance arrangements.

The remaining directors of the private equity investor will be Non-Executive Chairman Shonaid Jemmett-Page, Non-Executive Directors Lionel de Saint-Exupery, and Chief Financial Officer Niklas Ponnert, who is also a director of Origo Advisors Ltd.

Chris Rynning remains a director of Origo Advisors Ltd, which provides management services to the company.

"The revised board structure now reflects Origo's mandate as an investment company in realisation mode. We would like to thank the outgoing directors for their significant contribution to the company over the years," Jemmett-Page said in a statement.

In addition, the company said it is issuing about 2.0 million new shares at an effective price of 5.875 pence per share.

Origo has also issued 1.8 million shares in total to Jemmett-Page, Lionel de Saint-Exupery, Chao Yong, and Jemmett to cover half of their annual fees, as previously agreed.

Origo shares were untraded on Monday. The stock closed at 5.88 pence on Friday.

By Samuel Agini; samagini@alliancenews.com; @samuelagini

Copyright 2015 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
Origo Partners Ord 0.25 GBX -9.09
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